Page 13 - Brics

BRICS economies catching up with combined GDP of G7 countries: Piyush Goyal

BRICS is the driving force of global growth and the economies in the five-member bloc are catching up with the combined GDP of G7 countries, with significant shifts in the manufacturing process, Union Minister of Commerce Piyush Goyal said here on Monday. He was speaking at the opening ceremony of the BRICS Manufacturing Business Summit. The 21st century has witnessed significant shifts in what we manufacture, how we manufacture and for whom we manufacture, Goyal told delegates from more than 30 countries at the event. Manufacturing is a significant part of trade and industry and plays a pivotal role in the growth of a nation. While its dominance in the economy continues, the 21st century has witnessed a significant shift in what we manufacture, how we manufacture and what we manufacture, he said at the summit. The summit was one of the peripheral events ahead of the 15th BRICS Summit at which the leaders of the member countries - Brazil, Russia, India, China and South Africa - wil

Birics' development bank aims to issue first Indian rupee bond by October

The New Development Bank (NDB) issued its first rand bond in South Africa last week and could consider local currency issuance in members Brazil, Russia and United Arab Emirates

Open mind on expansion: PM Narendra Modi to head for Brics on Tuesday

Modi will be making an official visit to Greece on 25 August

PM Modi to attend 15th BRICS Summit in Johannesburg: Check details here

The summit, scheduled from August 22-24 in Johannesburg, will be the first in-person meet since 2019. This year's theme is 'BRICS and Africa'

India has 'open mind' for expansion of Brics: Foreign secretary Kwatra

Ahead of the BRICS summit in Johannesburg, India on Monday said it has a "positive intent" and an "open mind" for the expansion of the five-nation grouping. Prime Minister Narendra Modi is visiting the South African city from August 22 to 24 to attend the 15th BRICS summit at the invitation of South African President Cyril Ramaphosa. It will be the first in-person summit of BRICS (Brazil-Russia-India-China-South Africa) since 2019. Russian President Vladimir Putin has already decided not to travel to Johannesburg for the summit. The BRICS brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade. The prime minister is scheduled to leave for Johannesburg on Tuesday morning. From Johannesburg, Modi will travel to Greece where he will hold wide-ranging talks with Prime Minister Kyriakos Mitsotakis on broadening overall ties between the two countries. Aske

Statsguru: Rising relevance of Brics in global merchandise export market

It was at 20 per cent in 2022 compared to 5 per cent in 1992. They also account for a quarter of the world's economy

Nations want to join Brics for unfinished biz of last century: Diplomat

As nations of the world rise to complete the unfinished business of the last century, they aspire to join the five-nation BRICS grouping, a senior Indian diplomat has said. The remarks by Dammu Ravi, Secretary (Economic Relations) in the Ministry of External Affairs, came as he addressed business leaders and diplomats representing countries across Africa and South America at a gathering hosted by the India Business Forum of South Africa on the periphery of the BRICS Summit starting here on Wednesday. The theme of the seminar was "Harnessing Synergies: India-Africa Cooperation for Prosperity in the BRICS African Continental Free Trade Area Secretariat (AfCFTA) Landscape." Ravi described the unfinished business of the 20th century as moving away from the fight for freedom and independence from colonial rule to economic prosperity as the priority in the 21st century. With 22 countries having applied to join BRICS, Ravi said that in this new global drive, partnering with Africa was ..

Expansion of Brics, use of national currency among key agendas of summit

Development dimension and issues that are so crucial and critical for the Global South, will be part of the discussion in the BRICS Summit, scheduled on August 22-24 said Dammu Ravi, BRICS Sherpa

Does Brics exist only because a good acronym cannot be allowed to die?

India says it wants clear criteria established for new Brics memberships. But do even the existing members qualify under any meaningful criteria, asks T N Ninan

China confirms Xi will attend Brics in S Africa followed by state visit

Chinese President Xi Jinping will attend next week's summit of the BRICS nations in Johannesburg, to be followed by a state visit to South Africa, the Foreign Ministry said Friday. Foreign Ministry spokesperson Hua Chunying also said in a statement that during his August 21-24 visit to South Africa, Xi will co-chair the China-Africa Leaders' Dialogue with his South African counterpart, Cyril Ramaphosa. China is a core member of the BRICS nations, which also include Brazil, Russia and India. The grouping was predicated on linking the interests of the world's leading emerging economies but has sought to expand into other civil and governmental fields. Russian President Vladimir Putin has decided not to attend the summit because of an arrest warrant issued by the International Criminal Court for him, according to South African authorities. The development could be viewed as embarrassing for Putin, who is expected to be the only leader of a country in the bloc not to attend. Kremlin

S Africa keen on collaborating with BRICS partners in vaccine manufacturing

South Africa is keen on strengthening collaboration with BRICS nations in the field of vaccine manufacturing, the hydrogen economy as well as the marine sciences, a minister said. We are already working with the World Health Organisation through South Africa's hosting of mRNA vaccine technology transfer hub, but are also eager to work with BRICS partners, notably leveraging opportunities of our BRICS Vaccine R and D Centre, Minister of Higher Education, Science and Technology, Blade Nzimande, said at the 2023 BRICS Science, Technology and Innovation Ministerial meeting hosted in the coastal city of Gqeberha (formerly Port Elizabeth). The minister said at the meeting, one of several taking place ahead of the 15th BRICS Summit later in August, that South Africa had made excellent progress in developing new hydrogen and fuel cell technologies and was keen on joining forces with BRICS partners in this enterprise. Cooperation with partners in the Global South and strengthening ...

PM Modi to attend BRICS Summit in South Africa: Foreign Minister Pandor

The South African government on Monday confirmed that Prime Minister Narendra Modi will attend the next BRICS Summit to be held here from August 22 in person, dismissing some media reports as "rumours" that the Indian leader will not be present at the meeting. Briefing the media on South Africa's preparations for the 15th edition of the summit, Minister of International Relations and Cooperation Naledi Pandor told journalists that the leaders of Brazil, China, India and hosts South Africa will participate in a range of discussions. Russian President Vladimir Putin will participate virtually, due to an ICC warrant which would have obliged South Africa to arrest him if he came in person. I did speak to various colleagues in government and outside, and everybody was astounded by this rumour. I think that someone who is trying to spoil our Summit is creating all sorts of stories that suggest that it won't be successful, Pandor said as she confirmed Modi's attendance. The Prime Ministe

NRF to ensure equitable funding for research: Jitendra Singh at BRICS meet

Science and Technology Minister Jitendra Singh on Saturday said the proposed National Research Foundation will ensure equitable funding for scientific research and greater private participation in the endeavour. Addressing the 11th BRICS STI Ministerial Meeting at Goeberha in South Africa virtually, he said the National Research Foundation will also be given the task of creating a policy framework and regulatory process to promote research and development across universities. On Friday, Singh introduced the Anusandhan National Research Foundation Bill in the Lok Sabha to set up a national agency to fund research across universities in the country. "We are planning a unique public-private partnership entity for which Rs 36,000 crore of the research funding is to come from the private sector, mostly industry, whereas the government will put Rs 14,000 crore for the same to ensure greater participation of industry," the minister told his counterparts from Brazil, Russia, China and South

India dismisses 'baseless' reports that it opposes BRICS expansion

With the upcoming BRICS summit in Johannesburg set to discuss admitting new members, India on Thursday dismissed as "baseless" reports that it is opposed to the expansion of the grouping. It is learnt that New Delhi is yet to take a final decision on Prime Minister Narendra Modi's in-person attendance in the summit of the five-nation grouping from August 22 to 24. The summit is set to extensively deliberate on expansion of BRICS (Brazil, Russia, India, China and South Africa). The United Arab Emirates, Saudi Arabia, Argentina, Iran, Indonesia and Kazakhstan are among countries which have shown keen interest in joining the grouping. "We have seen some baseless speculation that India has reservations against the expansion. This is simply not true," External Affairs Ministry Spokesperson Arindam Bagchi said at a media briefing. "We have talked about India's position on expansion and we have clarified our position in the past. As mandated by the leaders last year, BRICS members are ..

PM Modi unlikely to travel to South Africa for Brics, to attend virtually

China and Russia are keen to discuss expansion of BRICS at the summit, while India has reservations about that idea

Brics will move forward on expansion at summit, says South Africa

Heads of state from Brazil, Russia, India, China and South Africa will make a pronouncement on the enlargement of the group when they meet Aug. 22-24, Anil Sooklal said

Expansion worries

Enlarging Brics will not inevitably restore relevance

India, Brazil push back against China's bid to rapidly expand BRICS

Dozens of other nations are also clamoring to join the alliance, fueling western concerns the group is moving to become a counterweight to Washington and the European Union

BRICS came into being to create more just world: S African ambassador

The BRICS bloc comprising Brazil, Russia, India, China and South Africa was created to address the inequities in the current world order, South African diplomat Anil Sooklal said on Thursday. Sooklal, the Ambassador at Large: Asia and BRICS at the South African Department of International Relations and Cooperation, was speaking on radio station 702 after President Cyril Ramaphosa announced on Wednesday that Russian President Vladimir Putin would not personally attend the BRICS Summit in Johannesburg. Russia will be represented by its Foreign Minister Sergey Lavrov at the summit. However, Putin will deliver his speech via video conference at the BRICS Summit that will take place between August 22 and 24. South Africa is the current chair of the BRICS. The ICC has indicted Putin for war crimes over accusations that Russia unlawfully deported Ukrainian children. As a member of the ICC, South Africa is expected to arrest Putin if he sets foot in the country. "President Putin decided n

Twenty two nations apply for BRICS membership, says South Africa

Sooklal has previously said that countries including Saudi Arabia and Iran have formally asked to become BRICS members